Nicola Wealth Management LTD. bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 174,200 shares of the financial services provider's stock, valued at approximately $9,974,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Sun Life Financial by 5.9% during the 1st quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider's stock valued at $29,933,000 after acquiring an additional 29,222 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Sun Life Financial by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock valued at $585,000 after purchasing an additional 1,645 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Sun Life Financial by 4.8% in the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock valued at $330,848,000 after buying an additional 266,732 shares in the last quarter. Cerity Partners LLC grew its stake in Sun Life Financial by 4.3% in the 1st quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock valued at $1,425,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in Sun Life Financial by 2,729.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider's stock valued at $1,921,000 after acquiring an additional 32,371 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on SLF shares. Barclays lowered Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. Argus upgraded Sun Life Financial to a "strong-buy" rating in a research report on Thursday, September 4th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.
Check Out Our Latest Stock Report on SLF
Sun Life Financial Stock Performance
Shares of Sun Life Financial stock traded up $0.27 during trading on Wednesday, hitting $59.07. 105,714 shares of the stock were exchanged, compared to its average volume of 683,955. The stock's fifty day moving average is $59.86 and its 200 day moving average is $60.07. The stock has a market cap of $33.20 billion, a PE ratio of 14.62, a P/E/G ratio of 1.60 and a beta of 0.89. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting analysts' consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The company had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.34 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. Sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Profile
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Free Report)
Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.
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